Sun.Oct 06, 2019

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Facebook has forced the world’s banks to innovate

Chris Skinner

It’s been interesting to watch the development of Facebook’s Libra project. As I expected, regulators hate it and are asking lots of questions about it. Most seem to want to ban it. And now PayPal has dropped out of the original founding team, with Visa and MasterCard rumoured to follow. … The post Facebook has forced the world’s banks to innovate appeared first on Chris Skinner's blog.

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Google Beefs Up Vacation Rental Search

PYMNTS

Google is stepping up its vacation rental business with enhanced listings that will include reviews, photos and more, and appearing before competitors on search, Skift reported on Saturday (Oct. 5). Nicola Simionato, director of business development for Travel at Google, revealed the new enterprise at the Vacation Rental World Summit in Lake Como, Italy.

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The Finanser’s Week: 30th September – 6th October 2019

Chris Skinner

The main blog headlines are … Banks are product not customer focused I walked into a grocer’s store the other day. The store was resplendent with fruits of all colours and continents. There were red, yellow and green peppers; carrots, courgettes and cauliflowers; oranges, apples and bananas of both large … The post The Finanser’s Week: 30th September – 6th October 2019 appeared first on Chris Skinner's blog.

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Coinbase CEO: US Should Support Libra Or ‘Get Left Behind’

PYMNTS

Coinbase CEO and co-founder Brian Armstrong tweeted that he thinks the U.S. should get on board with Facebook’s Libra, Cointelegraph reported on Saturday (Oct. 5). . “There are many cryptocurrencies, and Libra is just one of them. But the way the U.S. government reacted, it’s like they almost want to be left behind,” Armstrong tweeted on Friday (Oct. 4).

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Things worth reading: 7th October 2019

Chris Skinner

Things we’re reading today include … ‘I’m being jailed for four emails from 12 years ago’ HSBC to cut up to 10,000 jobs in drive to slash costs: FT Ex-Barclays executives face fraud trial over Qatar rescue Online wealth manager Nutmeg reveals widening losses Libra: PayPal first to drop out … The post Things worth reading: 7th October 2019 appeared first on Chris Skinner's blog.

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Even in tech-savvy Canada, digital ID must overcome outdated ideas

Payments Source

Canada is often at the forefront of payments innovation, with active fintech hubs and a national initiative to restructure the country’s transaction system for e-commerce. Yet outdated attitudes about identity risk linger, showing how hard it will be to achieve global digital ID at scale.

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Walmart Finds Buyer For ModCloth

PYMNTS

Go Global Retail announced its plans to acquire the assets of ModCloth from Walmart. ModCloth offers exclusive indie and vintage-inspired women’s clothing, shoes, handbags and accessories for 18- to 35-year-old women, while Go Global Retail is a brand investment platform for strategic investors in the consumer sector. After the acquisition, ModCloth will continue to operate out of its current operational set up, with Go Global Retail investing in its digital capabilities including artificial int

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Why Can’t Banks Get Digital Account Opening Right?

Ron Shevelin

Seriously now, how hard could opening a bank account through digital channels be?

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Indian Digital Startups Could Be Headed For Slump

PYMNTS

New internet startups in India are tumbling, pointing to the possibility of an overall decline in entrepreneurship, DealStreetAsia reported on Sunday (Oct. 6). Although Indian startup funding has increased and the number of unicorns has tripled, the numbers are misleading. . Startup deals in India decreased in 2017 and 2018 compared to previous years, the news outlet reported, citing the data analytics firm Tracxn Technologies.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Business email fraud makes gift card fraud even worse

Payments Source

Crooks can impersonate IRS officials, tricking people into using gift cards to pay for a fake penalty, says Chargeback 911’s Monica Eaton-Cardone.

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Coinbase Eyeing Omni’s Crypto Engineering Team For Acquihire

PYMNTS

Coinbase is reportedly in talks to acquire rentals startup Omni’s engineering team. Two sources told TechCrunch that Omni also laid off seven operations team members on Friday (October 4). The startup has also received interest in its engineering team from Thumbtack. The news comes as Omni has been struggling. Launched in San Francisco as an on-demand storage company that would pick up and tag items from your home, then store them in a warehouse, it eventually started to expand into other

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In Banking, Soft Skills Remain Blah Blah Blah

Jeff For Banks

Weakness: Middle Management. I hear this often. Why is it so common in community banks? I have opinions. Peter Principle is alive and well in banking. We elevate superior performers in their functional position to leadership positions to which they are ill prepared. We promote them to the level of ineffectiveness. But that doesn't mean that the experienced and high performing loan servicing person cannot become a great manager of Loan Servicing.

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Barn2Door Lands $3.4M To Help Farmers Sell Online

PYMNTS

Barn2Door has revealed that it raised a $3.4 million investment round led by Lead Edge Capital, with participation from Global Founders Capital and other investors. The startup, which creates eCommerce software for farmers, has now raised more than $4.5 million, with investors also including Sugar Mountain Capital, Fire & Vine Hospitality and Canlis Restaurant.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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APIs Perspective: Analysis of the PSD2 and Open Banking in Europe

Let's Talk Payments

Banking, which is a heavily regulated industry, is changing partly due to regulations and also due to new players and tech-led experiences they are bringing to the customers.

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Measuring the mixed impact of PSD2 legislation 18 months on

The Paypers

(The Paypers) We discussed with Nans Lorenzini , Legal and Compliance Officer at Limonetik , to learn more about the impact of PSD2, 18 months after it was adopted in January 2018

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Banking Is Facing Unequaled Transformation: Are You Ready?

The Financial Brand

Fast-moving changes impact consumer expectations, competition, business models, the need for digital-ready talent and profitability. The post Banking Is Facing Unequaled Transformation: Are You Ready? appeared first on The Financial Brand.

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Razorpay raises over USD 18 mln

The Paypers

(The Paypers) Razorpay , an online payments solution provider, has secured around USD 18.37 million from its US-based parent company Razorpay Inc.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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87 Pct. Of US-Bound Counterfeit Products Came From China Last Year

PYMNTS

Small business owners are trying to fight back against counterfeiters in China. Data from the U.S. Customs and Border Protection’s Office showed that last year, 87 percent of all counterfeit products seized at U.S. ports came from China or Hong Kong. In fact, it’s a problem around the globe, with 80 percent of all counterfeit products seized worldwide coming from China, according to the Organization for Economic Cooperation and Development.

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